I'm afraid the dollar won't be worth shit in the future. Right now I'm solid cash, all I have is a checking account and a savings account (soon to be a money market account). I'm only 25, so it's not quite as bad as it sounds, but obviously I want to start investing, but with the economy the way it is, I have no idea where to start.
:smoking:
xpanda showed me a rather interesting "gold bug" board that has some threads with millions of views:
https://www.kitcomm.com/forumdisplay.php?f=7
Don't try to read the whole thread, just the last couple days.
Thanks Green-but it's not exactly an outlandish concept(as I'm sure you're aware). Granted, this situation is uglier than any of us have seen in our lifetimes, but most people in the know think that we're damn close to the bottom. We may have a couple more down days, but don't underestimate the ability that the gov't has to manipulate the market....and when this baby starts running up, it's going to run just as fast as it went down-if not faster.
The jist of what I'm saying is that if you got out a month or two ago-nice job, but DON"T get out now....it's the worst thing you could do.
I just heard that municipal bonds are yielding 6% tax free which is the equivalent of 9% if you were to pay tax. I'm in short term CDs and well that would be a sizable difference in ROI if I were to find something that pays this.
Anyone familiar with these bonds at these yields? Just heard it on CNBC
Anyone familiar with these bonds at these yields? Just heard it on CNBC
ope:
Thanks, QL, I was just going to post this for the board.
The poster you want to follow is 'Cyclist.' He plays ETFs, plays into the volatility. Nothing he does is 'buy and hold', but in and out in hours or a couple of days. I've tripled my account in the past month following this guy.
That said, you should have enough food and cash on hand (not in the bank) to get you through three months, minimum. And as QL points out, gold is a good investment. The Yen, too. And, get out of debt now.
Learn to garden, buy seeds and fertilizer while you can. If you have the storage capacity, it wouldn't hurt to keep a few tanks' worth of gas around, too.
All this hoarding might seem dramatic, but even if shit doesn't hit the fan completely, you'll be ahead of inflation, which will probably start to ramp up early next year.
Good luck to all of us.
